Multi-Color Corporation ("Multi-Color Corporation" or the "Company") today announced that the anticipated acquisition of the Company by an affiliate of Platinum Equity, a leading private equity firm, is now complete.  At closing, Multi-Color Corporation merged with a subsidiary of WS Packaging, another label solutions leader within Platinum Equity`s portfolio of companies. The combined company, which will be known as Multi-Color Corporation and headquartered in Cincinnati, is a $2.2 billion USD per annum revenue business with 86 plants in 26 countries and over 10,000 global employees.

Moody's Investors Service ("Moody's") downgraded the Corporate Family Rating of Multi-Color Corporation ("Multi-Color") to B3 from Ba3 and the Probability of Default to B3-PD from Ba3-PD and confirmed all existing instrument ratings. The downgrade of CFR and PDR and confirmation of the existing debt instruments concludes the review initiated on February 26, 2019 following the announcement that Platinum Equity LLC ("Platinum Equity"), agreed to acquire Multi-Color through a merger with its portfolio company W/S Packaging Holdings, Inc. ("W/S Packaging") for $2.5 billion, including the assumption of $1.5 billion of debt. Platinum Equity is currently in the process of raising financing, which will be used to acquire Multi-Color and repay existing debt at both Multi-Color and W/S Packaging Holdings, Inc. Once the existing Multi-Color debt is repaid we will withdraw instrument ratings as well as the CFR and PDR.

Moody's Investors Service ("Moody's") confirmed the B3 corporate family rating and B3-PD probability of default rating of W/S Packaging Holdings, Inc. The confirmation concludes the review initiated on February 27, 2019 following the announcement that Platinum Equity LLC, agreed to acquire Multi-Color Corporation (Multi-Color) through a merger with its portfolio company W/S Packaging Holdings, Inc. At the same time, Moody's assigned a B2 senior secured rating and a Caa2 senior unsecured rating to the proposed acquisition financing. The outlook is stable.

NEW YORK , July 1, 2019 /PRNewswire/ -- Spirit Realty Capital Inc. (NYSE: SRC) will replace SM Energy Co. (NYSE: SM) in the S&P MidCap 400, and SM Energy will replace Multi-Color Corp. (NASD: LABL) in ...

Does Multi-Color Corporation (NASDAQ:LABL) represent a good buying opportunity at the moment? Let’s quickly check the hedge fund interest towards the company. Hedge fund firms constantly search out bright intellectuals and highly-experienced employees and throw away millions of dollars on satellite photos and other research activities, so it is no wonder why they tend to […]